Seven members of the Bank's Monetary Policy Committee (MPC) voted to increase the base interest rate to 4.5% from 4.25%.
Food prices have stayed higher for longer than expected, the Bank said, partly due to Russia's war in Ukraine and poor harvests in some European countries, ramping up the cost of living for households across the UK.
It means Consumer Prices Index (CPI) inflation is expected to decline less rapidly than the Bank predicted in its last report in February.
Inflation is still expected to drop sharply this year, as energy prices decline, the MPC said.
"There remain considerable uncertainties around the pace at which CPI inflation will return sustainably to the 2% target," it added.
Bu hikaye Manchester Evening News dergisinin May 12, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Manchester Evening News dergisinin May 12, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Old Trafford stadium task force to have decision MPIONS AGUE by end of the year
UNITED have earmarked the end of the year for the Old Trafford task force to conclude their findings.
This looks less like a review and more like dithering
ELEVEN days have passed since United's season ended in glory at Wembley but still we wait to discover whether Erik ten Hag's crowning moment is enough to keep him in the job.
KDB opens door for move to Saudi as he reviews all his options
KEVIN De Bruyne says he 'has to' be open to a move to Saudi Arabia as he cast doubt over his City future.
End of French fight for injured Djokovic
DEFENDING champion Novak Djokovic has withdrawn from the French Open due to a knee injury.
Care firm is accused of exploiting migrants
BUT IT DENIES ASKING STAFF TO WORK FOR FREE AND THREATS TO 'SEND BACK' THOSE WHO COMPLAIN
Operations axed after cyber attack
BLOOD TRANSFUSION SERVICES PARTICULARLY IMPACTED
Modi on course to win
PRIME Minister Narendra Modi's coalition is leading in a majority of seats in India's general election, according to early figures.
Murder accused stabbed his mum's ex, court told
A MAN had 'pent-up anger and frustration' when he stabbed his mum's former partner to death in his flat, it is alleged.
Bar's plea to 'use us before it's too late'
A BAR has issued a plea to customers after saying it is 'struggling' to stay afloat.
Thug threw hot coffee in his partner's face
REMORSELESS BRUTE JAILED OVER CAMPAIGN OF ABUSE